RE:RE:RE:RE:Ernieandbert and KWell,
Of course, the need to Cubans to approve a stream. They just got them to try it. So who knows what can happen it the medium or long term ? Would be in 5 years unless Co takes off and that Energaz receivable is paid back in less than 5 years.
GNC is now the conterparty for the Co Swap but also for the $ US 50 million annual remittance which also cover the distributions (dividend) from Power. No idea what portion is Sherritt dividend/costs. I wrote to IR but no answer yet. However, this makes the Power business much more valuable, especially now that they have the 20 years renewal. Could they sell it now, or spin it off as the market does not give it any value ? After all, Helms Burton does not apply to it. Sherritt main expertise is in mining, not power producing.
Not too sure that receiving cobalt is safer. A deal is a deal if you look at the structure. I would venture the Cuban did not want to commit to a fixed amount as it would play havoc if cobalt realizable value be less than 57 millions USD any year. This way, they are protecting their Moa cash flow and they sure do remember the downcycle.
GLTA